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Cable Update (GBPUSD)

  • #253,061
  • Sep 14, 2010 4:34pm Sep 14, 2010 4:34pm
Quoting Dayboy001
I see you guys are all still here,

I went away to lick my wounds and get my head together, went from 2% up to 2% all because I didn't trade to plan.

Trading FX is a weird business with some seriously unsociable hours, but the early bird catches the worm.
  • #253,062
  • Sep 14, 2010 4:36pm Sep 14, 2010 4:36pm
Quoting cloggie
Trading FX is a weird business with some seriously unsociable hours, but the early bird catches the worm.
bad day for me, lost my head, I look back over the PA and see all the places I should have been in and out, but got caught up shorting and then to top it off added to the position, totally missing the bigger picture !!
  • #253,063
  • Sep 14, 2010 4:39pm Sep 14, 2010 4:39pm
Quoting Dayboy001
bad day for me, lost my head, I look back over the PA and see all the places I should have been in and out, but got caught up shorting and then to top it off added to the position, totally missing the bigger picture !!

That should be one of your cardinal rules, never ever add to a loser, period. Far better and smarter men then you or I have tried and failed.

Once an intraday trend was established like the one today where the fundamentals and the technicals were pulling in the same direction, it takes a lot for the trend to slow down, stop and reverse. So never look for a reason to short, look for reasons for the trend to continue.
  • #253,064
  • Sep 14, 2010 4:41pm Sep 14, 2010 4:41pm
Cloggie,

you always say cable likes it's 50 is that of the currrent move?

i.e a retrace to 1.5466

I am not saying this will happen this time just trying to understand whether that is what you usually point towards.

Or have I got my fib drawn incorrectly?
  • #253,065
  • Sep 14, 2010 4:43pm Sep 14, 2010 4:43pm
Quoting Dayboy001
Cloggie,

you always say cable likes it's 50 is that of the currrent move?

i.e a retrace to 1.5466

I am not saying this will happen this time just trying to understand whether that is what you usually point towards.

Yes Cable likes the 50, whether it is of a daily move or the swing hi/lo of the daily chart. You gotta keep in mind though that todays' fundamentals were purely one way and they haven't gone away yet, any shorts should be seen as CT's with a shelf life of around 30-40 pips between consolidation areas, I gave the next levels earlier and I really think that 5466 is out of reach, unless we get some more news re Kan in Japan tonight.
  • #253,066
  • Sep 14, 2010 4:49pm Sep 14, 2010 4:49pm
Quoting pawpaw1000
...STILL CANT BELIEVE I MISSED THIS MOVE!
Hey Pawpaw... Don't beat yourself up! Plenty of opportunities will come and go. I was here and got on the wrong side of the move if that makes you feel any better, all because I left an old order which got filled when the bull party was in full swing... LOL
  • #253,067
  • Sep 14, 2010 4:53pm Sep 14, 2010 4:53pm
Quoting bbakker
Hey Pawpaw... Don't beat yourself up! Plenty of opportunities will come and go. I was here and got on the wrong side of the move if that makes you feel any better, all because I left an old order which got filled when the bull party was in full swing... LOL
I was out, missed a good 50pip move in no time upon my arrival, but then played for a bounce which worked nicely, ofcourse the next bounce it ran 60pips and I was already in wuss keeping my profits mode by then.

150pips, predictable pips for the most part, would of sure been nice.

But always tomorrow. ( well not always with dying and all LOL )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #253,068
  • Sep 14, 2010 5:03pm Sep 14, 2010 5:03pm
Every move with the expansion of EMA's must reach a point of
exhaustion and collapse to some degree or pause which naturally
then allows the MA's to catch up.... gathering again, compressing
and releasing their energy for the next move... up or down.

Dr. D.
Attached Image
  • #253,069
  • Sep 14, 2010 5:25pm Sep 14, 2010 5:25pm
Quoting fourxtrader
Every move with the expansion of EMA's must reach a point of
exhaustion and collapse to some degree or pause which naturally
then allows the MA's to catch up.... gathering again, compressing
and releasing their energy for the next move... up or down.

Dr. D.
Awesome move today for sure... Question for you, I was late to the party this morning, and because of that, unsure about entry. I got in and out with 30 pip profit, but obviously I left a lot on the table. How do you generally feel about entering into a trade after the breakout has already happened?
  • #253,070
  • Sep 14, 2010 5:26pm Sep 14, 2010 5:26pm
Quoting cloggie
Trading FX is a weird business with some seriously unsociable hours, but the early bird catches the worm.
It's also the early worm that gets eaten....

Just gotta make sure you are more windshield and less bug in your trading.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #253,071
  • Sep 14, 2010 6:05pm Sep 14, 2010 6:05pm
hi all

BB1 congrts


nice PA short of 15600 but was a great ride fiber it was with the dam honey


hope all happy and in green ,

wise man bugs are every where

thats what i see long term i might be wrong
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  • #253,072
  • Sep 14, 2010 6:18pm Sep 14, 2010 6:18pm
Quoting USD-Bear
Man, you are way too serious
about this, sure hope nobody follows my leads
Then why spout off then? When you suck people in to your way of thinking and then say you were not sincere? I sthat not being dishonest?
  • #253,073
  • Sep 14, 2010 6:26pm Sep 14, 2010 6:26pm
Quoting Nate04
Awesome move today for sure... Question for you, I was late to the party this morning, and because of that, unsure about entry. I got in and out with 30 pip profit, but obviously I left a lot on the table. How do you generally feel about entering into a trade after the breakout has already happened?


try to put a ema200 at u chart and u will see where is market going
  • #253,074
  • Sep 14, 2010 6:35pm Sep 14, 2010 6:35pm
What is the market waiting for? It seems to be quite stagnant..
  • #253,075
  • Sep 14, 2010 6:37pm Sep 14, 2010 6:37pm
Quoting kill56
try to put a ema200 at u chart and u will see where is market going
Thanks for the suggestion. I'll give it a shot.
  • #253,076
  • Sep 14, 2010 7:19pm Sep 14, 2010 7:19pm
Quoting aussietrader
What is the market waiting for? It seems to be quite stagnant..

Normal after a big move for it to be range bound, no one wants to risk chasing mixed with a fair bit of profit taking ='s flat.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #253,077
  • Sep 14, 2010 7:20pm Sep 14, 2010 7:20pm
Quoting Nate04
Thanks for the suggestion. I'll give it a shot.

I remember when my 200ema was laughed at know it's the standard which everyone uses.

Sadly, it's just a small edge among many that are required.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #253,078
  • Sep 14, 2010 8:26pm Sep 14, 2010 8:26pm
Quoting kill56
try to put a ema200 at u chart and u will see where is market going
what time frame?
  • #253,079
  • Sep 14, 2010 8:29pm Sep 14, 2010 8:29pm
Quoting kotemamak
we can go there after i take profit at 1.5515
well that took a while but ..... tp hit.
  • #253,080
  • Sep 14, 2010 8:31pm Sep 14, 2010 8:31pm
looking time to add more long .........
not euphoria follower
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